OIL & ENERGY INSIDER
Oil prices rebounded on Friday morning as inflation fears fade and the global supply glut slowly drains, although the IEA did revise its demand projection downward. For more great energy content, make sure you subscribe to the Oilprice youtube channel for breaking news and analysis. Friday, May 14th, 2021 Oil prices rebounded on Friday after a midweek selloff. Neither the bullish nor bearish narratives are taking hold at the moment, and Brent crude is trading in the upper-$60s. Colonial pipeline restarts. The Colonial Pipeline restarted product flows on Wednesday, although localized shortages will take time to ease. The company reportedly paid the ransom, but the operator of the ransomware group Darkside said on Friday it had lost control of its servers and some of the money it had made through ransom payments. Exxon ratchets up Guyana production. ExxonMobil (NYSE: XOM) has boosted its 2025 forecast for oil production in Guyana to 800,000 bpd, with plans for a fourth proj